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The difference between the amounts of interest Henry and Ingrid paid for their loans is $330.

Given that,

Henry took out a 4-year loan for $5,000 and paid 4.2% annual simple interest.

And Ingrid took out a 6-year loan for $5,000 and paid 3.9% annual simple interest.

We have to find,

The difference between the amounts of interest Henry and Ingrid paid for their loans.

According to the question,

Henry took out a 4-year loan for $5,000 and paid 4.2% annual simple interest.

Then,

Where, Principal = $5000, rate = 4.2% = 0.042, and time = 4 years

Therefore,

The amount of interest of Henry is $840.

Ingrid took out a 6-year loan for $5,000 and paid 3.9% annual simple interest.

Where, Principal = $5000, rate = 3.9% = 0.039, and time = 6 years

Then,

The amount of interest of Ingrid is $1170.

Therefore,

The difference between the amounts of interest Henry and Ingrid paid for their loans.

= $1170 - $840 = $330

Hence,  The difference between the amounts of interest Henry and Ingrid paid for their loans is $330.

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